EU REFERRAL WILL DELAY KPMG AND ERNST & YOUNG MERGER

Ernst & Young and KPMG have confirmed that the companies are to merge to become the world'd largest accountancy fir...

Ernst & Young and KPMG have confirmed that the companies are to merge to become the world'd largest accountancy firm, but the move has been referred to EU competition authorities, and will probably be held up until next March, The Times (p28) reports.

Colin Sharman of KPMG, who would become chairman of the new group, said he was confident that 'we will get through the regulatory hurdles', which will also involve regulatory authorities from Japan and America.

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